Updated over 1 year ago on . Most recent reply
Property Tax Increase - Fort Mill, SC (Lancaster County)
Hey everyone,
Quick backstory. I purchased a townhome in Fort Mill, SC (Lancaster County) in July 2023. This is an investment property. The first year my property taxes were $1,619. I have just received an escrow analysis statement, and it indicates that's my property taxes for the year will now be $6,839. This is making my mortgage payment go from $2,293 to $3,308 per month.
A few questions for those who have experience with this:
1. Does this kind of increase seem reasonable?
2. Have the property taxes increased because this is an investment property and not a primary residence?
3. Is there any way I can lower the property taxes to the original amount?
Any insights or advice would be greatly appreciated. Thanks in advance!
I have attached a photo of my original property taxes along with the new projected property taxes.
